Patricia Pilz of Caithness Energy, ... is making a tempting offer: sign a waiver saying you will not complain about excessive noise from the turning turbines ... and she will cut you a check for $5,000.
“Shall we call it hush money?” said one longtime farmer, George Griffith, 84. “It was about as easy as easy money can get.” Mr. Griffith happily accepted the check, but not everyone is taking the money.
* - Costlessly is the big assumption. Much of the rest of his Nobel came from showing the importance of transaction costs and that it is NOT costless to do this kind of arrangement.